Bioelectronics Corp (BIEL)

[edbi46]

From Yahoo BIEL conversations:
" Coach2 days ago
Here is the response from bioelectronics to my question about the the cvs deal. Feel free to share it on the other board because there is much false information and lies. Bioelecrtonics received a visit from Protex, two individuals. The purpose of their visit was to discuss CVS’s interest in obtaining new wraps and brace products. They proposed designing a knee brace that would include an ActiPatch.

Protex went forward and designed a knee sleeve. They also designed a box that included the Protex name on it. They then went to CVS and received a purchase order without having a license or distributorship agreement with BioElectronics. CVS set the retail prices at $30.49 for the device and $18.87 for the device which was $10.00+ below our prices.

Andy only agreed to supply test devices on the initial locations with the condition that all future purchase orders were to be issued to BioElectronics. Protex did not have the management or financial resources to advertise or promote the product.

Andy was unsuccessful in his repeated attempts to establish a workable relationship with Protex and notified CVS that BioElectronics was not going to provide devices to Protex. Although the product did exceptionally well in the test, CVS chose not to change vendors.

BioElectronics is moving forward in discussions with qualified distributors that will properly manage, price, and advertise our product. "